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[https://coinut.com Coinut] is a bitcoin options exchange owned by Coinut Pte. Ltd., a Singapore company.<ref>https://bitcointalk.org/index.php?topic=813287.0</ref> It is the first to provide exchange traded [http://en.wikipedia.org/wiki/Option_(finance) Bitcoin options]. They are providing a full site for both binary[http://en.wikipedia.org/wiki/Binary_option binary options] and [http://en.wikipedia.org/wiki/Option_(finance) vanilla options].  
[https://coinut.com COINUT] is a cryptocurrency exchange founded in 2013 and owned by the COINUT Group and headquartered in Asia’s financial hub, Singapore, with subsidiaries in north America and Europe. It was designed to make it easier, faster and more secure for people all over the world to trade cryptocurrencies and their derivatives. The company is backed by [https://www.boost.vc/ Boost VC] in Sillicon Valley and [https://enterprise.nus.edu.sg/ NUS Enterprise] in Singapore. COINUT was the first to provide exchange traded [http://en.wikipedia.org/wiki/Option_(finance) Bitcoin options]. However, they paused options trading in 2016 due to liquidity issues and limited market interests. Currently they are providing cryptocurrencies trading with fiat support including Singapore dollars and US dollars. But they are looking forward to relaunching options and other derivatives trading.


Although there are already a few binary options sites, few of them are exchange traded, and none of them provide different strike prices, and most of them provide extremely short expiration durations. These make them intrinsically gambling sites as they always have unbeatable advantages to control the chance of winning.<ref>http://thefxview.com/2014/06/15/is-binary-options-trading-a-form-of-gambling/</ref> Compared with them, Coinut is the only site that supports truly exchange traded Binary options. As shown in their website, they strictly disallow members in the company to trade in platform to ensure its fairness, this is probably the first exchange in the bitcoin community that do not participate in trading themselves. <ref>https://www.cryptocoinsnews.com/report-mtgox-fraud-led-to-1200-bitcoin-price/</ref>
== Founder ==
COINUT exchange was founded in 2013 by [https://twitter.com/TheRealXinxi Xinxi Wang], who was pursuing his PhD in Computer Science in [http://www.nus.edu.sg/ National University of Singapore]. Before he started the exchange, he traded in the forex market for years and developed his own automated trading strategy. Both his background in Computer Science and forex trading laid a foundation for creating the exchange. In 2016, he was fasciated by Litecoin and joined as a volunteer developer and later he co-founded the [https://litecoin-foundation.org/about-us/ Litecoin Foundation] with the Litecoin creator [https://twitter.com/SatoshiLite Charlie Lee]. Since then, Litecoin has became the mostly traded cryptocurrency in the exchange.


== How to trade ==
== Technology ==
Binary options are easy to trade. If you believe the price is going up, buy call options; otherwise buy put options. If you do not know which direction to bet on, you can buy/sell call and put options at the same time.  
COINUT has a very advanced match engine that can handle 2.6 million orders per second, which is probably the fastest among all cryptocurrency exchanges followed by [https://binance.com Binance]. Their backend system was written in C/C++ instead of the prevalent scripting languages like NodeJS or PHP. According to their founder, their proprietary technology is not based on [https://www.lmax.com/technology LMAX], which may have issues in failure recovery.


== Interface ==
== Expansion ==  
Coinut's interface is developed with the goal of maximizing its efficiency and convenience. The core part is written in C++ instead of other slow languages such as PHP (this also makes it more secure). All data is streamed to via WebSocket, which makes the interface extremely responsive and fast.
The exchange was founded in Asia's financial hub, Singapore. In late 2017, the exchange experienced tremendous growth and started to expand overseas. Now the exchange has subsidiaries in Canada and Switzerland and will enable Canadian dollars and Euros trading.
 
[[File:Coinut_screenshot_1.png|500px]]
 
== Security ==
In additional to regular methods adopted by existing bitcoin based sites such as SSL, cold-storage, and Linux based servers, it is the first to publish verifiable weekly audit information. The purpose is to increase the transparency of the site.
 
They adopted the proof of reserve audit approach described in this article https://iwilcox.me.uk/2014/proving-bitcoin-reserves. This method generates verifiable audit results and also has been adopted by a few big name exchanges such as Bitstamp and Bitfinex.
 
However, they move this idea one step further. Instead of relying on a third party, they directly show how much bitcoin reserves they have and how much the total user balance is. The audit is practiced for every week. This removes the necessity of the third party, which users may not trust, and also provide better transparency. The following is a screenshot of their Audit interface.
 
== Supported Assets ==
Coinut currently supports the following assets
* BTC/USD
* BTC/CNY
* BTC/EUR
 
== Promotions ==
They are now running several promotions. For example, they reward weekly the user with the most volume 0.04 BTC (about 16 USD) and 0.01 BTC (4 USD) the most profit. They are also running a signature campaign: https://bitcointalk.org/index.php?topic=877329.0.


== References ==
== References ==
<references />
<references />

Revision as of 06:07, 8 May 2018

Coinut
IndustryBitcoin & Cryptocurrencies Exchange
Websitehttps://coinut.com

COINUT is a cryptocurrency exchange founded in 2013 and owned by the COINUT Group and headquartered in Asia’s financial hub, Singapore, with subsidiaries in north America and Europe. It was designed to make it easier, faster and more secure for people all over the world to trade cryptocurrencies and their derivatives. The company is backed by Boost VC in Sillicon Valley and NUS Enterprise in Singapore. COINUT was the first to provide exchange traded Bitcoin options. However, they paused options trading in 2016 due to liquidity issues and limited market interests. Currently they are providing cryptocurrencies trading with fiat support including Singapore dollars and US dollars. But they are looking forward to relaunching options and other derivatives trading.

Founder

COINUT exchange was founded in 2013 by Xinxi Wang, who was pursuing his PhD in Computer Science in National University of Singapore. Before he started the exchange, he traded in the forex market for years and developed his own automated trading strategy. Both his background in Computer Science and forex trading laid a foundation for creating the exchange. In 2016, he was fasciated by Litecoin and joined as a volunteer developer and later he co-founded the Litecoin Foundation with the Litecoin creator Charlie Lee. Since then, Litecoin has became the mostly traded cryptocurrency in the exchange.

Technology

COINUT has a very advanced match engine that can handle 2.6 million orders per second, which is probably the fastest among all cryptocurrency exchanges followed by Binance. Their backend system was written in C/C++ instead of the prevalent scripting languages like NodeJS or PHP. According to their founder, their proprietary technology is not based on LMAX, which may have issues in failure recovery.

Expansion

The exchange was founded in Asia's financial hub, Singapore. In late 2017, the exchange experienced tremendous growth and started to expand overseas. Now the exchange has subsidiaries in Canada and Switzerland and will enable Canadian dollars and Euros trading.

References

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